South Street 网爆吃瓜 to acquire GX2 Systems
02 August 2023 US
Image: Pixels Hunter/stock.adobe.com
South Street 网爆吃瓜 Holdings is to acquire financial market software engineering company GX2 Systems (GX2).
As part of the mandate, South Street 网爆吃瓜 will acquire all of GX2鈥檚 equity assets as well as its wholly-owned broker-dealer arm GX2 Spread Markets.
GX2 specialises in the development and implementation of US Treasury (UST) securities liquidity and related analytical solutions. It also houses ExMode, a hosted execution platform.
The firm, which is to be acquired in Q4 2023, also provides algorithmic, agency brokerage and principal execution liquidity solutions, along with direct exchange connectivity, real-time pricing of cash and futures markets, and post-trade reporting services.
GX2 CEO David Jaberg will join the South Street executive committee after the transaction closes.
GX2 will continue to operate from its current Chicago office and from South Street鈥檚 New York headquarters. GX2 was previously majority-owned by Chicago-based firm Geneva Trading.
Commenting on the acquisition, Jim Tabacchi, CEO of South Street, says: 鈥淭he acquisition of GX2 will allow South Street to be better positioned to serve our clients with cutting-edge algorithmic, agency brokerage and principal market-making liquidity solutions in US Treasuries.鈥�
Jaberg adds: 鈥淭he entire GX2 team is excited to use our expertise to enhance South Street's offerings and expand our reach within the financial industry.鈥�
As part of the mandate, South Street 网爆吃瓜 will acquire all of GX2鈥檚 equity assets as well as its wholly-owned broker-dealer arm GX2 Spread Markets.
GX2 specialises in the development and implementation of US Treasury (UST) securities liquidity and related analytical solutions. It also houses ExMode, a hosted execution platform.
The firm, which is to be acquired in Q4 2023, also provides algorithmic, agency brokerage and principal execution liquidity solutions, along with direct exchange connectivity, real-time pricing of cash and futures markets, and post-trade reporting services.
GX2 CEO David Jaberg will join the South Street executive committee after the transaction closes.
GX2 will continue to operate from its current Chicago office and from South Street鈥檚 New York headquarters. GX2 was previously majority-owned by Chicago-based firm Geneva Trading.
Commenting on the acquisition, Jim Tabacchi, CEO of South Street, says: 鈥淭he acquisition of GX2 will allow South Street to be better positioned to serve our clients with cutting-edge algorithmic, agency brokerage and principal market-making liquidity solutions in US Treasuries.鈥�
Jaberg adds: 鈥淭he entire GX2 team is excited to use our expertise to enhance South Street's offerings and expand our reach within the financial industry.鈥�
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